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Warne may be the best placed to understand the pressure being felt by Franklin, after living a life in the spotlight both on and off the field.
"It's a real shame for Buddy. I know Buddy pretty well," Warne said.
"We are all feeling for him and we hope he gets well soon. The Swans have paid him the big money and paid him to play in finals and it's a real shame he's missing out.
"All of us who love our AFL would love to see him play in the finals. He's a big match player who could have helped Sydney's cause in winning the flag."
Warne also revealed that he would welcome if Buddy reached out.
"I'm there for him anytime. Always have been. That's what mates do," Warne said.
"There haven't been too many things I haven't been through to be honest – good and bad.
"All you can do is be there for them and support and help them out.
"When any person out there is going through depression, you just need good people around them."